West Australian gold explorer BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to report that metallurgical test work conducted on Abercromby core samples have confirmed its free milling status and therefore amenability to conventional carbon-in-leach (CIL) processing, with high gold recoveries achieved.

The study was conducted on drill core samples representative of fresh Abercromby mineralisation and results are consistent with, and exceed those from previous, metallurgical test work undertaken at Abercromby - refer ASX announcement on 19 April 2021 'High Gold Recoveries (Average 90%) from Metallurgical Testwork of Abercromby Drill Samples'. This latest testwork was completed by Perth based Extreme Metallurgy and reviewed by GR Engineering Services, which has been retained by BMG to advise on project development for Abercromby.

BMG Managing Director Bruce McCracken said: 'These excellent results are in line with our expectations from high level test work undertaken previously and represent another important step in our progression of the Abercromby Gold Project. 'This second study has reinforced the highly recoverable character of Abercromby gold mineralisation using a conventional gravity/cyanidation flowsheet, and extrapolation of these results implies high gold recoveries for the entire deposit. 'Free milling ore with high gold recoveries and low reagent consumption will significantly bolster project economics at Abercromby where BMG is targeting a maiden Resource at the Capital deposit.'

TECHNICAL DISCUSSION

Test work was conducted on two 50kg, quarter core composites from BMG's Abercromby Project, and followed a typical gravity/cyanidation flowsheet, one that is ubiquitous to most mills in WA. Samples were selected by BMG's geologicalteam, comprising intervals offresh, competent, mineralised core, interpreted to be representative of the greater mineralised system and located within the main mineralised portion of the deposit. Mineralisation is characterised by silica, pyrite, carbonate altered basalt and dolerite, punctuated by quartz and quartz carbonate stockwork veins.

Gravity and Cyanidation Testwork

Both samples were tested via typical gravity gold recovery followed by cyanidation by Metallurgy Laboratories in Welshpool. Both composites achieved high gold recoveries of 93.00% and 94.94% for composite 1 and 2 respectively, each with low gold in tails.

Contact:

T: (61 8) 9424 9390

E: enquiry@bmgl.com.au

WEB: www.bmgl.com.au

Competent Person Statement

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Ben Pollard, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy. Mr Pollard is the Principal of Cadre Geology and Mining Pty Ltd and has been retained to provide technical advice on mineral projects. Mr Pollard has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Pollard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Contact:

Bruce McCracken

Managing Director

BMG Resources Limited

T: +61 8 9424 9390

Email: enquiry@bmgl.com.au

Media and Investor

Gerard McArtney

Cannings Purple

T: +61 487 934 880

Email: gmcartney@canningspurple.com.au

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